JSW MG Motor India Partners with HSBC India to Strengthen Channel Finance Solutions
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Tailored financing solutions offering competitive and flexible terms for dealers
Chennai, November 04, 2024: JSW MG Motor India has announced a strategic partnership with HSBC India, to provide comprehensive channel financing solutions for its dealer network. This collaboration will offer JSW MG Motor India dealers access to comprehensive dealer financing solution at competitive terms.
Leveraging HSBC India’s expertise will provide easy access to working capital for JSW MG Motor’s dealer network. With varied and customised financing options on offer, this collaboration will enhance operational efficiency, promote business sustainability, and foster long-term growth opportunities for the dealer partners.
Commenting on the partnership, Satinder Singh Bajwa, Chief Commercial Officer at JSW MG Motor India, said, "Our collaboration with HSBC marks a significant step in empowering our dealer partners. This strategic partnership is a testament to our ongoing efforts to provide the best resources and support to our dealer partners, thereby driving mutual success. HSBC's global expertise and strong geographical presence in India makes them an ideal partner in our growth journey."
Gaurav Sahgal, Country Head Business Banking, HSBC India, said, "Our partnership with JSW MG Motor India represents a strategic step forward in delivering financial solutions for the all-important channel partners. Our aim is to facilitate seamless access to financing and fostering a conducive environment for them to respond more effectively to market demands. It is another milestone to further strengthen our long-standing relationship with JSW MG Motor India."
About JSW MG Motor India
SAIC Motor, a global Fortune 500 company with a presence in over 100 countries and JSW Group (India's leading conglomerate with interests across B2B and B2C sectors) formed a joint venture - JSW MG Motor India Pvt. Ltd. in 2023. The joint venture aims to build a smart and sustainable automotive ecosystem while continuing to stay focused on developing a diverse portfolio of vehicles to give car buyers better access to advanced technologies and futuristic products with attractive value propositions. JSW MG Motor India Pvt. Ltd. is committed to introducing world-class technology, strengthening the manufacturing landscape, best of innovation across its business operations, and generating significant employment opportunities through extensive localisation.
About Morris Garages
Founded in the UK in 1924, Morris Garages vehicles were world-famous for their sports cars, roadsters, and cabriolet series. MG vehicles were much sought after by celebrities, including British Prime Ministers and even the British Royal Family, for their styling, elegance, and spirited performance. The MG Car Club, set up in 1930 at Abingdon in the UK, has thousands of loyal fans, making it one of the world’s largest clubs for a car brand. MG has evolved into a modern, futuristic, and innovative brand over the last 100 years. Its state-of-the-art manufacturing facility in Halol, Gujarat, has an annual production capacity of 1,00,000 plus vehicles and 6,000 direct and indirect employees. Driven by its vision of CASE (Connected, Autonomous, Shared, and Electric) mobility, the innovative automaker has augmented across-the-board ‘experiences’ within the automobile segment today. It has introduced several ‘firsts’ in India, including India’s first Internet SUV – MG Hector, India’s first Pure Electric Internet SUV – MG ZS EV, India’s first Autonomous (Level 1) Premium SUV – MG Gloster, the Astor- India’s first SUV with personal AI assistant and Autonomous (Level 2) technology, MG Comet – The Street-Smart Car, and MG Windsor – India’s first Intelligent CUV.
